Europe

Germany’s largest residential real estate company, Vonovia, took its total bond issuance year to date to €3.6bn after announcing a €500m no-grow five year deal as it continued to fund its M&A activity.

Veteran Deutsche Börse executive Jeffrey Tessler has been appointed chairman of derivatives exchange Eurex Frankfurt and clearing division Eurex Clearing.

British oil and gas company BP returned to the European corporate bond markets on Thursday for the first time in a year. Two euro tranches came 12 months after the company’s last euro offering, and a sterling tranche was its first in its domestic currency since August 2016.

Raiffeisen Bank International and Svenska Handelsbanken were able to shrug off volatile trading conditions in the euro bond market this week to bring debut offerings of green senior debt.

As the first half of 2018 draws to a close, it is clear Europe’s equity capital markets have been battered by political tensions and fears of disruption to international trade. Volume is down, particularly in block trades.

British oil and gas company BP returned to the European corporate bond markets on Thursday for the first time in a year. Two euro tranches came twelve months after the company’s last euro offering, and a sterling tranche was its first in its domestic currency since August 2016.

Two German issuers sold corporate bonds on Tuesday and, after a day many Germans may want to forget on Wednesday, mobile phone operator O2 Telefónica Deutschland made it a German treble the following day.

Raiffeisen Bank International found healthy interest from investors in its first ever green bond deal on Thursday, as the bank returned to the euro senior market after an absence of just under five years.

Deutsche Apotheker-und Aerztebank (ApoBank) issued a comfortably oversubscribed 10 year Pfandbrief which was priced at the widest level of any German 10 year issued so far this year.

Barclays has hired from Bank of America Merrill Lynch and also promoted two others to lead the digitisation of its markets business.

Crédit Agricole has sold a Samurai bond to retail buyers, marking the first time it has participated in that market. It is in the tier two format, despite European regulators’ concern that non-institutional investors holding bank capital could prevent the effective resolution of institutions.

Paul Feeney, Quilter's CEO, has attributed the success of the company’s IPO to listening to investors on price, which ensured the asset manager's stock got off to a flying start when it began trading.